Apellis price target raised to $70 from $54 at Citi

Citi raised the firm’s price target on Apellis Pharmaceuticals to $70 from $54 and keeps a Buy rating on the shares. The company preannounced Q3 Syfovre sales of $74M, which came in much better than feared, the analyst tells investors in a research note. The firm says the sooner than expected return to weekly demand growth beginning in August indicates retina specialists are gaining comfort that 0.01% appropriately reflects the true retinal vasculitis risk given now over 100,000 vials have been distributed.